Common use of Retirement Pension Benefits for Employees Hired before May 10, 2012 Clause in Contracts

Retirement Pension Benefits for Employees Hired before May 10, 2012. (i) The District is a participant in the California Public Employees’ Retirement Plan, currently CalPERS 2.5 % @ 55 retirement plan. One‐year Final Compensation (1 yr. FAC). (ii) Employees will pay one hundred percent (100%) of the employee contribution, which is 8% of base salary.

Retirement Pension Benefits for Employees Hired before May 10, 2012. (i) The District is a participant in the California Public Employees’ Retirement Plan, currently CalPERS 2.5 2.5% @ 55 retirement plan. One‐year Final Compensation (1 yr. FAC). (ii) Employees will pay one hundred percent (100%) of the employee contribution, which is 8% of base salary.